Russian stocks seen flat on correcting ruble, oil prices

MOSCOW, Nov 24 (PRIME) -- The Russian stock market is expected to open with marginal changes on Friday because the ruble and the oil prices have corrected downwards, analysts said.

"The dynamics on the global markets is uneven on Friday in the morning: the Japanese Nikkei 225 grew by 0.58%, the Chinese Shanghai Composite fell by 0.67%," Cifra Broker said, adding that consolidation of the Russian market is expected.

The ruble weakened moderately on Friday’s opening to 88.49 against the U.S. dollar.

The national currency has strengthened against the dollar for seven weeks in a row, by 13.6%, BitRiver’s financial analyst Vladislav Antonov said.

"The Russian national currency’s growth slowed down as the growth potential was exhausted. At the same time, the market is still looking for a new balance because of the use of non-market tools for exchange rate formation," Antonov said.

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